Funding for hull insurance for fishing vessels in Vietnam

03:26, 10/07/2024

Recently, the Ministry of Finance issued Circular 35/2008/TT-BTC guiding Decision 289/QD-TTg on policies to support ethnic minorities, policy households, poor households, near-poor households, and fishermen.

Support Policy for Disadvantaged People and Fishermen, Circular 35/2008/TT-BTC

Funding for hull insurance for fishing vessels in Vietnam (Illustrative Photo)

Circular 35/2008/TT-BTC regulates the funding for hull insurance for fishing vessels as follows:

Subjects Eligible for Support Policies:

Fishermen who own fishing vessels with a capacity of 40CV or above and have purchased hull insurance and crew accident insurance.

Conditions for Support:

- Fishing vessels with a capacity of 40CV or above, service vessels for fishing activities that have completed inspection and registration procedures, have a fishing license, and have purchased hull insurance and crew accident insurance.- Vessels currently engaged in fishing activities, service vessels for fishing activities, employing crew members with a labor contract of at least 1 year.

Support Level:

Fishermen who own fishing vessels, service vessels for fishing activities that have purchased hull insurance are supported with 30% of the annual insurance premium, and crew members are supported with 100% of the annual crew accident insurance premium.

For more details, see Circular 35/2008/TT-BTC, effective May 24, 2008.

Ngoc Tai

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